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Here's how wildly expensive it is to participate in F1

The cost of competing in Formula One racing is extremely high. Not in the physical and lifestyle sense, although that too takes a major toll on each team and driver, but in a literal hand-over-the-cash sense. Each F1 team pays hundreds of thousands of dollars to enter, plus a fee for every single point the team earned in the previous season. Motorsport.com recently detailed just how absurdly pricey entering the F1 field is. According to the piece, the price of entry goes up each year due to the U.S. Consumer Price Index. For 2019, the entry fee is $546,133, and it doesn't stop there. There are additional dues required of each team based on where the team finished in the previous season. Interestingly, the winners pay more. For example, Mercedes-Benz, the constructor champion for the past five years, must pay $6,553 per point it scored in 2018. With 655 points scored, that's $4,292,215. All other teams must pay $5,459 per point. For a full rundown of what the teams will be paying for 2019, check out the full article here.Related Video:

Ferrari to introduce a V8 hybrid supercar this year

Ferrari is bringing a new mid-engine V8 supercar to the market this year — but with a hybrid drivetrain this time. Last year, then-Ferrari CEO Sergio Marchionne told Auto Express that a hybrid V8 was coming, and Automotive News is now reporting that a hybrid supercar will debut later this year. According to Automotive News, the new Ferrari won't be displayed at the Geneva Motor Show next month, but it will have an unveiling event of its own later on. It will sit above the 488 Pista, as it will have more power. Automotive News quotes Ferrari CEO Louis Camilleri as having confirmed the car on an earnings call in late January, saying that it will be more profitable than for example the 812 Superfast and that deliveries will start a year from now. The hybrid V8 supercar marks a step ahead for Ferrari, as it means hybrid tech will no longer be reserved to limited-edition specialties like the KERS-boosted LaFerrari, but that the technology will feature in a "regular lifecycle" model. Camilleri also stated that 60 percent of the Ferrari lineup will have a hybrid variant by 2022; this means that there will be pure gasoline variants for petrolheads shunning electric assist, but that Ferrari can also move ahead with the times. The electrified technology that Ferrari is developing is also expected to trickle to Maserati's upcoming Alfieri model that replaces its GranTurismo; that car will also be made in Ferrari's hometown of Modena. Related Video:

Kimi Raikkonen fastest in first Belgian Grand Prix practice

SPA-FRANCORCHAMPS, Belgium — Ferrari's Kimi Raikkonen lapped fastest in first practice for the Belgian Grand Prix on Friday but Mercedes, and title contender Lewis Hamilton, still looked every bit the team to beat. A four-time winner at Spa, and with a contract extension for 2018 announced earlier in the week, Raikkonen lapped the longest track on the calendar with a best time of 1 minute 45.502 seconds. The 37-year-old Finn's time was set on the quickest ultra-soft tires, however, while Hamilton — preparing for his 200th race start — was second-fastest and only 0.053 slower on the soft compound. Hamilton was 0.092 faster than Ferrari's world championship leader Sebastian Vettel, with the German third on the timesheets and also setting his time on the quickest but least durable tire. Vettel leads Hamilton by 14 points with nine races remaining. Red Bull's Dutch teenager Max Verstappen, Belgian-born and attracting a huge traveling support of orange-capped fans, was fourth fastest with Australian team mate Daniel Ricciardo fifth. Hamilton's teammate Valtteri Bottas, who bumped into the tire barrier after going off across the gravel and damaged his front wing, was sixth fastest. The session was halted after 15 minutes when Brazilian Felipe Massa, who missed the previous race in Hungary after feeling dizzy in practice, crashed heavily into the tire barrier at turn seven out of Les Combes. He was taken to the medical center for checks, before returning to the pitlane, with his team facing a long job rebuilding the car. The session resumed after a 10 minute stoppage. Williams said the chassis would have to be changed and the team still hoped to get the car back out on track for some of the day's second session, even if that looked like being optimistic. Fernando Alonso suffered a lack of power in his McLaren, but still ended up 13th fastest. Belgian team mate Stoffel Vandoorne, who will start his home race last on Sunday thanks to a 35 place penalty due to a power unit change, was 10th. Reporting by Alan BaldwinRelated Video: Image Credit: Reuters Motorsports Ferrari McLaren Mercedes-Benz F1 Lewis Hamilton Sebastian Vettel Kimi Raikkonen Max Verstappen Valtteri Bottas belgian grand prix